Global oil prices surged the most on record after a strike on a Saudi Arabian oil facility removed about 5% of global supplies, an attack the US has blamed on Iran. In an extraordinary start to trading, Brent futures jumped almost $12 a barrel in the seconds after the open on Monday, the biggest intraday advance in dollar terms since they were launched in 1988. State energy producer Saudi Aramco lost about 5.7 million barrels per day of output on Saturday after 10 unmanned aerial vehicles struck the world’s biggest crude-processing facility in Ab-qaiq and the kingdom’s second-biggest oil field in Khurais. Meanwhile, The United States has issued satellite images and cited intelligence to back its claim that Iran was behind attacks on the oil facilities. Iran denies involvement in the air attacks, which were claimed by Iran-aligned Houthi rebels in Yemen. On this edition of the big picture we will analyse the present situation in west asia ad what it means to India and the world.
Guests - Sushil Chandra Tripathi, Former Secretary, Ministry of Petroleum & Natural Gas, GOI,
Ashok Sajjanhar, Former Diplomat,
Prof. A. K. Pasha, Centre for West Asian Studies, JNU,
Anchor - Frank Rausan Pereira
Producer - Sagheer Ahmad